Search DubaiPRNetwork.com

Dubai and UAE
Home >> Banking & Investments

Sheraa and Alef Group Tap into Potential of Region's Startup Talent in Retail and F&B with AED3M Support

Sheraa and Alef Group Tap into Potential of Region's Startup Talent in Retail and F&B with AED3M Support

Wednesday, January 26, 2022/ Editor -  

Share

Home >> Banking & Investments
In partnership with the Ministry of Culture and Youth, Sheraa and Alef Group launch new edition of Access Sharjah Challenge; calls for breakthrough solutions from homegrown brands to boost local economy 
 
• Prize pool of AED 500,000 and comprehensive support offered to winners is worth AED 2.5 million
• Applications for ‘Access Sharjah Challenge – Al Mamsha’ are open until February 20
• Four winning startups in each sector will be announced in April
• Winners will each have spaces at the Food Hall and Concept Store located at Al Mamsha Sharjah developed by Alef Group
 
 
Sharjah, January 26, 2022
 
The Sharjah Entrepreneurship Center (Sheraa) in partnership with Alef Group, one of the top property developers in Sharjah, have announced the launch of ‘Access Sharjah Challenge – Al Mamsha’ to foster innovation in the region and attract the best startup talent from across the GCC with a focus on the retail and food and beverage (F&B) sectors. 
 
Held in partnership with the Ministry of Culture and Youth, the launch marks the fourth edition of Sheraa’s Access Sharjah Challenge, a platform that aims to connect startups across a wide spectrum of industries to relevant public and private entities in Sharjah, and across the UAE. The goal is to facilitate the entry of winning startups into one of the fastest-developing markets in the MENA region to realise the full potential of their businesses. 
 
The new edition of the competition will see Sheraa extend support to creative startups in the retail and F&B sectors and stimulate innovation in the vibrant entrepreneurship ecosystem in Sharjah. In addition to a range of support services and benefits, the top four winners in each category will be able to open retail spaces at the Food Hall and Concept Store locations at Sharjah’s Al Mamsha, a premier mixed-use development by Alef Group.
 
The ‘Access Sharjah Challenge – Al Mamsha’, offers a generous cash prize pool of AED 500,000 with one-year rent-free spaces at Al Mamsha Food Hall and Concept Store, in addition to the prize, Alef and Sheraa will offer AED 2.5 million worth of technical support and fit-out packages. Winners will also receive business set up support and gain access to networking opportunities with potential investors. Winners of the ‘Access Sharjah Challenge – Al Mamsha’ will commit to a 10% revenue share after the first year of operations.
 
Substantial benefits for promising startups  
Applicants in the F&B sector must be a first-time homegrown local brand or an established F&B entity with a new dining concept and winners will each receive AED 100,000 in cash to complete their fit-out; waiver of one-year rent from the start date of operation; technical support with industry experts to develop a PoC, business and operational plans; and facilitation of business registration and granting of approvals. Alef Group will enhance the winner’s spaces with facilities for closed kitchen area, an open counter area, and seating area and winners can avail the opportunity to operate at Al Mamsha for a minimum period of 5 years. 
 
Applicants in the retail categories  must  be homegrown brands and designers with unique product lines or concepts in a wide range of merchandises. Preference will be given to retail brands that first established their presence in Sharjah. Winners will each receive AED 25,000 in cash to complete their fit-out. Alef Group will provide a designated retail island, truss frame for ceilings, separate lighting, and eye-catching digital display totem, amongst others, and winners can choose to operate at Al Mamsha for a minimum period of 2 years. 
 
Commenting on the Access Sharjah Challenge Al Mamsha 2022, H.E. Noura bint Mohammed Al Kaabi, Minister of Culture and Youth, said: “Following the success of our collaboration with Sheraa to support the cultural and creative industries in the UAE, the Ministry of Culture and Youth is keen to extend support to innovative, creative, and tech-savvy startups from across the GCC in retail and F&B sectors. Through this initiative, we hope to unlock opportunities to expand the regional ecosystem for these sectors and set them onto a sustainable growth path.”
 
Her Excellency added: “The UAE’s long history of trading has made retail critical to the country’s DNA while the exceptionally dynamic food and beverage industry is a key contributor to the nation’s economy. The ‘Access Sharjah Challenge - Al Mamsha’ builds on the symbiotic relationship between retail and F&B and the UAE’s strong culture of stimulating innovation to provide aspiring entrepreneurs a conducive framework to bring their ideas to fruition.”
Supporting homegrown talent and concepts 
 
Najla Al Midfa, CEO of Sheraa, said: “The new edition of Sheraa’s Access Sharjah Challenge is an enabling platform for innovative homegrown startups to enter the Sharjah market and positively contribute to two of the fastest growing sectors in the region. The AED 3 million worth support and prize pool including connections to key stakeholders will help fulfil the ambitious goals of young entrepreneurs in the region, and help them bring their creative ideas to fruition.”
The Sheraa CEO added: “Nurturing homegrown talent is a core value at Sheraa, and the ‘Access Sharjah Challenge – Al Mamsha’ will test innovative and scalable business ideas in retail and F&B sectors and provide a tangible platform for winners to grow their brands. Our partnership with Alef Group builds on our shared vision of empowering the future generations of entrepreneurs by providing guidance and necessary support to thrive and succeed in globally competitive markets.”  
 
Issa Ataya, CEO of Alef Group confirmed: “The entrepreneurship sector is an engine to increase the diversity and integration of the economy and raise its competitiveness. This prompted the Alef Group to strengthen its cooperation with Sheraa to support entrepreneurs and owners of distinguished projects and provide them with the necessary facilities to establish, expand and develop their businesses within the group’s projects to benefit from the competitive advantages of the emirate of Sharjah in this field.”
 
The Alef Group CEO also pointed out: “Supporting young entrepreneurial talents is a priority for Alef Group as cooperating with these pioneers not only allows it to benefit from their talents and capabilities in opening high-quality outlets, especially in the retail and food and beverage sectors, but also ensures the provision of a better shopping experience through talented Emiratis and UAE residents. We aim to motivate entrepreneurs to continue launching innovative ideas and projects that enhance the attraction and quality of life in the emirate.”
 
Applications for ‘Access Sharjah Challenge – Al Mamsha’ close on February 20. Following a process of internal shortlisting, around 10-15 of the most promising startups in each sector will be provided technical support from March 7-24 to finalise their pitches and concepts. The Pitch Day, later in March, will see shortlisted applicants pitch their unique ideas to a judging committee. Winners will be announced in April.

Previous in Banking & Investments

Next in Banking & Investments


Home >> Banking & Investments Section

Latest Press Release

Danube Group announces Sanjay Dutt as its new Brand Ambassador

The First Round of the ‘Big City Centre Vote' Results Have Been Revealed

ERRA Discusses Copyright Challenges and Explores Solutions at 31st Abu Dhabi In ...

Summary of Weekly Real Estate Transactions for the Week Ending 27 May 2022

Tanishq Revives the Romance of Polki

Dubai to Host TOP50 Global Conference and Awards on June 18

Zip in and Zip out with Nissan's 60-min Express Service

Portugal Expects Furniture Exports to UAE to Grow Multifold in Coming Years

Young Talent Jan Christen to Join UAE Team Emirates

New Maserati MC20 Cielo Global Premiere

World Government Summit Identifies Critical Decision Points Supporting Global Le ...

Post Expo 2020: Brazil keeps up the Momentum for Sustainable Opportunities of th ...

Shahid Kapoor to Perform at IIFA Awards 2022

Dubai Municipality wins Supply Chain and Procurement Award for Digital Transform ...

Union Coop: 100 tons of Fresh Produce Supplied Daily from 95 Farms

Key Partnerships and Collaborations Signed during Global Aerospace Summit 2022

Indulge in the World of Refreshing Coffee Concentrates by Intellect

UAE Government Signs Sustainable Global Strategic Partnership Agreement with Wor ...

Double Your Productivity with the LG Gram +View

DLD Mo'asher: April 2022 Witnessed Highest Number of Sales Transactions in Same ...